{"id":3981,"date":"2024-10-22T12:03:31","date_gmt":"2024-10-22T12:03:31","guid":{"rendered":"https:\/\/investingsstrategist.com\/index.php\/2024\/10\/22\/bitcoin-drops-to-a-new-weekly-low-on-tuesday-october-22\/"},"modified":"2024-10-22T12:03:31","modified_gmt":"2024-10-22T12:03:31","slug":"bitcoin-drops-to-a-new-weekly-low-on-tuesday-october-22","status":"publish","type":"post","link":"https:\/\/investingsstrategist.com\/index.php\/2024\/10\/22\/bitcoin-drops-to-a-new-weekly-low-on-tuesday-october-22\/","title":{"rendered":"Bitcoin drops to a new weekly low on Tuesday, October 22"},"content":{"rendered":"
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Bitcoin drops to a new weekly low on Tuesday, October 22<\/h1>\n

The price of Bitcoin retreated to $66,820 on Monday, October 21<\/span><\/p>\n

Bitcoin chart analysis<\/h2>\n

The price of Bitcoin retreated to $66,820 on Monday, October 21. We again took a step below $67000 and the EMA 200 moving average. Fortunately, the price stayed there for a short time, followed by a rise to $67,900. The weak momentum created resistance there. Bitcoin did not have enough strength to continue the bullish consolidation, which resulted in the initiation of bearish consolidation<\/a>.<\/span><\/p>\n

The price broke yesterday\u2019s low and formed a new one this morning at the $66559 level. We quickly stabilized down there and pulled back above the EMA 200 moving average and $67,000. After that, Bitcoin begins to recover to the $67770 level. We expect to see a continuation of this consolidation above $68,000. In that zone, we will test the EMA 50 moving average, and we need its support to strengthen the bullish momentum.<\/span><\/p>\n

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The price dropped to a new weekly low this morning, bringing fears of a bearish trend<\/h2>\n

Potential higher targets are $68250 and $68500 levels. For a bearish option, we need a negative price consolidation up to the $67000 level. With the break below, we strengthen the bearish momentum with the pressure of the EMA 200 moving average. After that, Bitcoin will have to look for a new lower support level. Potential lower targets are $66750 and $66500 levels.<\/span><\/p>\n

Investors in BlackRock\u2019s iShares BTC Trust added $329 million to the fund on October 21 after Bitcoin fell 3% in one day. Fidelity Wise Origin Bitcoin Fund is the second US spot Bitcoin ETF to see an inflow of $5.9 million on Monday, October 21. It was the third time in four trading days that BlackRock\u2019s spot BTC ETF received more than $300 million in inflows. BlackRock\u2019s IBIT continues to lead among all spot BTC ETF products \u2014 passing the $23 billion mark in total net inflows.<\/span><\/p>\n

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The post Bitcoin drops to a new weekly low on Tuesday, October 22<\/a> appeared first on FinanceBrokerage<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin drops to a new weekly low on Tuesday, October 22 The price of Bitcoin retreated to $66,820 on Monday, October 21 Bitcoin chart analysis The price of Bitcoin retreated to $66,820 on Monday, October 21. We again took a step below $67000 and the EMA 200 moving average. Fortunately, the price stayed there for […]<\/p>\n","protected":false},"author":0,"featured_media":3982,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-3981","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy"],"_links":{"self":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts\/3981","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/comments?post=3981"}],"version-history":[{"count":0,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts\/3981\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/media\/3982"}],"wp:attachment":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/media?parent=3981"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/categories?post=3981"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/tags?post=3981"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}